ZEVEX Announces Closing Of Acquisition By Moog

Salt Lake City, UT - The acquisition of ZEVEX International, Inc. by Moog Inc. has been completed. ZEVEX is now a wholly-owned subsidiary of Moog. In the merger, each share of ZEVEX common stock that was issued and outstanding was immediately converted into the right to receive from Moog $13.00 in cash. The aggregate purchase price in the merger is approximately $83.8 M.

ZEVEX is now part of Moog's Medical Devices Segment. ZEVEX will continue normal operations through its two primary divisions, Applied Technology and Therapeutics, located in Salt Lake City. ZEVEX's former President and Chief Executive Officer, and now General Manager of the Moog subsidiary David J. McNally, said, "We are pleased to announce the closing of our acquisition by Moog. We believe that the combination of ZEVEX with Moog's existing medical devices business increases our growth potential and will build a robust Medical Devices Segment within Moog."

"We're excited about having ZEVEX become part of our Company," said R. T. Brady, Chairman and CEO. "We believe that ZEVEX brings an outstanding combination of personnel and products that further extend Moog's capabilities in the medical market, enabling us to continue growing this business."

As a result of the merger, ZEVEX requested that The Nasdaq Stock Market delist its common shares and terminate trading of the shares as of the end of today. ZEVEX also intends to file a Form 15 to deregister its common stock from the requirements of the Securities Exchange Act of 1934, as amended.

SOURCE: ZEVEX International, Inc. and Moog Inc.